Turkmenistan Legalizes Cryptocurrency: A New Era for Economic GrowthTurkmenistan has recently made cryptocurrency legal, aiming to boost economic growth and attract foreign investment. The new law, signed by President Serdar Berdimuhamedov, allows both mining and crypto exchanges to operate openly in the country.The law categorizes virtual assets into secured and unsecured types, treating them as property rather than money or stocks. It prohibits their use for buying goods or services, limiting their application to investments.Experts believe this move could significantly benefit developing nations, as legalizing crypto has been shown to enhance financial access and attract digital investments, thereby accelerating economic growth.Mining is now permitted for registered companies and individuals, with strict technical rules and a ban on practices like cryptojacking. Crypto exchanges and storage services can also obtain licenses from the central bank, with local and foreign owners welcome, except those linked to offshore locations. All must verify customer identities and combat money laundering, with no anonymous deals allowed. Checkout Solipillow.com

The Daily News Now! — Every city. Every story. AI-powered.

---

Hosted on Acast. See acast.com/privacy for more information.